$1,000 invested in SpaceX when Elon Musk lost trillionaire status is now worth

An investment of $1,000 in SpaceX (SPCX) on June 23, when Elon Musk lost his trillionaire status, would be worth approximately $852 as of August 7, representing a 15% decline from the reference price. Despite this, SpaceX shares surged 15.83% in the latest trading session, their strongest single-day gain since the IPO, adding over $300 billion in market value and lifting the company's valuation to about $1.74 trillion.

SpaceX shares initially rallied after their June 12 IPO, reaching an intraday high of $225.64 and briefly pushing the company's valuation toward $3 trillion. However, the momentum reversed due to pressure on technology stocks from rising Treasury yields, AI spending concerns, and profit-taking. The stock experienced a significant sell-off on June 22, erasing substantial market value.

Despite market volatility, SpaceX reported strong second-quarter results. Revenue surged 92% year over year to $7.8 billion, beating expectations. Adjusted EBITDA jumped 191% to $3.5 billion, and the net loss narrowed. Starlink continued to drive growth, while the AI segment also contributed significantly. However, capital expenditures increased substantially, primarily for AI infrastructure, which initially weighed on investor sentiment. Sentiment improved in early August after a major lockup period expired without triggering the expected heavy selling.